Electric rates are set by the state
Duke Energy Progress is a regulated utility. Therefore, unlike other businesses, we do not set the prices our customers pay. Instead, our rates must be reviewed and approved by the state’s utility commission (the N.C. Utility Commission and the Public Service Commission of South Carolina).
Learn more about rates by viewing the links below and in the right sidebar of this section.
As a regulated utility, Duke Energy Progress is allowed to recover the costs necessary to ensure reliable power and the opportunity to earn a reasonable rate of return. That return is used to fund new infrastructure improvements and to compensate those who invest in the company.
Duke Energy Progress goes through a detailed public process when requesting a change in our prices. Here’s how the process works.
How rates are set
Click on the graphic for more information on how rates are set.
Your electric bill is actually made up of several cost components, each of which is subject to review and approval by the state’s utility commission.
Click on the graphic to view more details about a North Carolina residential bill.
The components of a bill
The example below shows a detailed breakdown of the various costs using the current 1,000 kilowatt-hour residential bill. Click on the graphic to learn more.
Duke Energy Progress is committed to delivering clean, reliable, affordable power to our more than 1.3 million North Carolina customers who depend on us each day. To achieve that, we invest millions of dollars and countless hours each year in the planning, building and operating of our complex system.
Your rates are an important part of how we fund these essential expenses and repay the shareholders and bondholders who help make such large investments possible.
Where a dollar goes
Click on the graphic above for a detailed breakdown of how a dollar to Duke Energy Progress is spent.
To make every dollar count, we work to be as efficient and prudent as possible, and to balance affordability in the present with investments for the future. All so that we can continue to deliver clean, reliable, affordable power today and for years to come.
To learn more about Duke Energy Progress N.C. retail rate schedules, retail tariffs and wholesale transmission rates, visit the rates and tariffs section on duke-energy.com.